NOTICE TO TAXPAYERS REGARDING A DETERMINATION OF THE ADAMS CENTRAL COMMUNITY SCHOOL CORPORATION, ADAMS COUNTY, INDIANA, TO ENTER INTO A PROPOSED THIRD AMENDMENT TO LEASE OF FACILITIES OPERATED BY THE SCHOOL CORPORATION The taxpayers of the Adams Central Community School Corporation, Adams County, Indiana (the ÒSchool CorporationÓ), are hereby notified that on August 8, 2017, the Board of School Trustees of the School Corporation (the ÒBoardÓ), did adopt a resolution determining that the School Corporation will take all actions necessary to enter into an amendment to an existing lease (the ÒThird Amendment to LeaseÓ), between the Adams Central Elementary School Building Corporation (the ÒBuilding CorporationÓ), as lessor, and the School Corporation, as lessee, which in turn will allow the Building Corporation to issue one or more series of first mortgage bonds (the ÒBondsÓ), payable from the lease rentals received from the School Corporation pursuant to the terms of the proposed Third Amendment to Lease. The Bonds may be issued in one or more series or issues in an original aggregate principal amount not to exceed Seventeen Million Dollars ($17,000,000), for the purpose of procuring funds to pay for all or a portion of the costs of the 2018 Facility Renovation, Reconstruction and Addition Project, as defined and fully described in the resolution adopted by the Board on April 11, 2017, together with interest on the Bonds and the costs of issuance of the Bonds. The proposed lease, as amended by the Third Amendment to Lease (collectively, the ÒLeaseÓ), will have an increased term not to exceed twenty (20) calendar years (which is an additional twelve (12) years beyond the current final term of the Lease, assuming the first addendum to the Third Amendment to Lease is recorded no later than December 31, 2017) and for an increased annual lease rental not to exceed Two Million Two Hundred Thirty-Five Thousand Dollars ($2,235,000) (which amount is net of any funds received by the School Corporation or the Building Corporation from the United States of America as a result of any or all of the Bonds being issued under one or more federal tax credit programs) during this period of time, payable in semiannual installments commencing no earlier than June 30, 2018, and thereafter on June 30 and December 31 of each year during the remaining term of the Lease. Dated this 10th day of August, 2017. ADAMS CENTRAL COMMUNITY SCHOOL CORPORATION ADAMS COUNTY, INDIANA By: Dr. Lori Stiglitz, Superintendent hspaxlp08/10,15,17,22
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PostedAugust 10, 2017